Molson widens investors’ prospects

Article Excerpt

MOLSON COORS CANADA INC. remains a hold. The beer brewer (Toronto symbols TPX.A $45 and TPX.B $44; Conservative Growth Payer Portfolio, Consumer sector; Shares o/s: 216.7 million; Market cap: $9.5 billion; Dividend suspended in March 2020; Dividend Sustainability Rating: Below Average; www.molsoncoors.com) last paid a quarterly dividend of $0.57 U.S. a share on March 20, 2020. However, it has now suspended dividend payments for the rest of 2020. In response to slowing beer sales, Molson is launching new beverages. For example, it has now teamed up with Coca-Cola Co. (New York symbol KO) to launch Topo Chico Hard Seltzer in the U.S. While demand for these drinks are strong, Molson’s short-term outlook remains weak as many bars and restaurants continue to operate at reduced capacity due to the COVID-19 pandemic. Molson Coors is a hold. hold…